The recent plunge in the value of cryptocurrencies may have wiped out millions from North Korea’s fund comprised of stolen crypto assets. The diminishing value of cryptocurrencies is believed to be affecting Pyongyang’s ability to fund its weapons programs.
Stolen Crypto Assets and North Korea’s Weapons Programs
The recent crash of the crypto market may have wiped out millions of dollars in value from North Korea’s fund of stolen cryptocurrency, digital asset investigators have said. The drop in value of the crypto assets could supposedly threaten the country which reportedly relies on stolen digital assets to fund its programs.
According to a Reuters report, which quotes unnamed sources in the South Korean government, the bearish market will likely complicate North Korea’s ability to fund its weapons programs. The Seoul-based Korea Institute for Defense Analyses estimates that Pyongyang has spent as much as $620 million on missile tests this year alone.
The blockchain analysis firm...
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